Submission for Funding Support on Training Partners Gateway (TPGateway) for Financial Institutions
Kindly complete submissions for funding support for courses commencing on or after 10 October 2022 on the TPGateway(Includes only in-house courses accredited by IBF under the company's own name).
Funding Support Submission
Before Course | During Course | After Course | ||
| Add Course Runs | Calculate Grants | Submit Enrolment | Trainees and Trainer to take digital attendance | Submit Assessment Results |
| Maintenance of course runs and sessions for each approved course | Eligible grant amount for learners calculated based on enrolment details submitted by TPs and FIs / FinTechs for In-house courses only | Training Providers to check and ensure that trainee’s digital attendance is successfully taken | Bulk upload of assessment for reduction in processing time | |
| Course Runs and Course Sessions | Enrolment | Attendance | Assessment | |
|---|---|---|---|---|
| In-house Courses for Financial Institutions / FinTech Firms | Before course start date[1] | Enrolment must be submitted before or within 105 calendar days after course run start date | All attendance must be taken digitally during the course session | Assessment results must be submitted within 105 calendar days after course run end date |
All Financial Institutions / Fintechs with IBF accredited courses must have a local Singapore bank account and subscribe to Corporate PayNow to receive disbursement.
Course Fee Subsidy (Submission by FI/FinTech Firm for
in-house courses) | Documents required for audit checks after course run submission (upon IBF audit request):
The following documents
must be submitted to IBF if your total grant submissions (based on
course run end date) for each half-year period (January to June, and
July to December) ≥ S$30,000:
The audit certificates
must be submitted to IBF via email at funding@ibf.org.sg
within 3 months from the end of each half-year period (for the first
half-year
period, submission latest by end September and the 2nd half-year, by
end March of the following year). Submission after these prescribed
deadlines will not be accepted and might result in rejection of
claims submitted to IBF. Click here to download the template for Internal Auditors (IA) / Compliance (CC) certification. Click here to download the template for External Auditors (EA) certification. Click here to download the Terms of Reference for Auditors and Internal Compliance Departments. Click here to download the Doc (B) In-house Developed Programmes Form.
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Licensed Representatives and General Insurance Agents | All licensed representative (e.g. financial advisors, insurance agents, remisiers) and general insurance agents registered with the General Insurance Association’s (GIA) Agent Registration Board who wish to register for FTS courses, must provide a Letter of Support from his/her Financial Institution (FI) Principal. Please refer to template of Letter of Support (LOS) as attached. Training providers should sight the staff pass of the licensed representative or registered agent, and check the MAS Register of Representatives / General Insurance Association (GIA) Agent Registration Board to confirm the trainee’s eligibility.
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| a) Form B (In-house Developed Programmes Declaration Form) Mandatory details to be reflected in Form B:
b) Invoice issued by external consultant (if applicable) Mandatory details to be reflected in Invoice:
c) Exchange rate[2] records for expenses paid in foreign currency other than SGD. d) Documents to verify personal particulars[3] of trainees e) Attendance (Only applicable to manual attendance submission) and assessment records[4] signed or acknowledged by the trainers and trainees f) Full video recordings[5] of synchronised online training sessions g) LOS - Letter of Support (Only applicable for licensed representative and registered agent) h) Documentation showing any digital payment of qualifying fees made directly to training providers by trainees or trainees’ sponsoring employer for the course run. |
Revision to course code |
FIs/FinTech Firms with in-house courses can login to your TPGateway account for the latest and updated course code before the claim submission.
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Goods & Services Tax (GST) |
GST funding support will no longer be applicable for all courses effective 3 October 2022.
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Double-Funding |
All funding support submission by Financial Institutions / Singapore FinTech Association (SFA) certified FinTech Firms should not be claiming for any other grants, subsidies, or tax concessions, provided either by the Financial Sector Development Fund (FSDF) and/or other government agencies, unless explicitly permitted.
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Administrative Fee |
IBF reserves the right to charge an administrative fee if there are errors associated with the funding support submission, regardless of whether any grants have been disbursed.
|
Computation of Unit Cost |
Click
here to access the computation for E-learning
courses.
|
Course Run & Course Session |
A course run and session(s) must be created before its course commencement date for the link to the QR code for attendance taking to be sent to the Course Administrator and Trainer.
|
Make-up Sessions / Assessment |
Ensure to conduct and submit the attendance and assessment records for the make-up session(s)/assessment(s) within the submission deadline and within 120 calendar days from the initial course run end date which the trainee was enrolled in.
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Processing Timeline |
IBF will take approximately 6 to 8 weeks to process the funding support submission upon complete and accurate submission after the submission deadline for Attendance and Assessment records, and full payment made. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, Corporate PayNow not link or nonstandard cases).
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Payment of Course Fees |
Trainees for whom IBF-STS / FTS funding is sought must make digital payment directly to the Training Provider for the portion of the course fees not funded by IBF-STS / FTS. For employer-sponsored trainees, the digital payment may be made by the trainee’s employer. The payment must not originate, whether directly or indirectly, from the Training Provider or any of its related and/or associated companies. Cash payments are not allowed under any circumstances. |
[2] Exchange rate should be using the daily MAS Exchange Rate as at the date of the invoice.
Foreign Currency Exchange Rate
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Frequently Asked Questions (FAQ): |
